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FUD Takes Over Crypto Social Media in Retail Selloff: Santiment 

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“FUD has taken over social media,” following Bitcoin’s 16% fall over the previous week, mentioned blockchain analytics agency Santiment on Monday.

The crash was “a results of retail promoting their baggage,” it said earlier than including that “that is extra proof that markets transfer in the other way of the group’s narratives.”

“Negative posts about crypto proceed to flood in, with social information indicating that that is probably the most bearish that retail has been because the November twenty first crash.”

Crypto markets tanked 19% in November, with $680 billion exiting the house. Comparatively, the latest crash has been shallower, with a 14% slide and a $440 billion exodus, however it has despatched markets again to April 2025 lows.

A Relief Rally In Sight?

“In most instances, there’s a reduction rally following main destructive occasions like this,” mentioned Santiment. “Thus far, this bounce is encouragingly trying just like the earlier two cases following FUD.”

However, there have been few indicators of restoration but, with Bitcoin nonetheless buying and selling at nine-month lows round $78,000 and Ether obliterated at bear market lows round $2,300.

CryptoQuant analyst ‘Darkfost’ blamed the document October leverage flush, saying that the occasion “is absolutely the one which pushed BTC right into a bear market.”

“Liquidity destruction in an already unsure crypto market setting is just not conducive to a return of hypothesis, which is nonetheless a key element of the crypto market.”

Analyst ‘Sykodelic’ was bullish, noting that the expansion in this week’s manufacturing PMI information is a optimistic signal for the financial system.

“We usually are not in a bear market and won’t be heading down for 10 months and getting a 75% retrace. The cycle is gearing up for enlargement, not on the finish of it.”

Bitcoin at Big Support Level

“Big help stage at $74K, which would be the foremost factor to look at in the week(s) forward,” said analyst ‘Daan Crypto Trades.’ Sweeps can be okay, however closes beneath that time would “spell additional hassle,” he added.

“Overall, it’s simple to see how the market construction has shifted bearish additionally on the upper timeframe, with the bearish rejection at $98K and this newest leg down.”

BTC was buying and selling at $78,500 on the time of writing, down 11% on the week and 10% because the starting of the yr.

The put up FUD Takes Over Crypto Social Media in Retail Selloff: Santiment  appeared first on CryptoPotato.

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